Defending champion Woosnam, who also won the title in 1988, scored a last round of 70 last year to win by two shots from Darren Clarke, Ernie Els and Nick Faldo with Colin Montgomerie in fifth place.
Clarke and Els have entered again in another formidable field which includes three times champion Bernhard Langer in addition to Seve Ballesteros, José Maria Olazábal and Lee Westwood.
Langer established the record score for the Championship when he put together rounds of 66, 69, 68 and 67 to win in 1987 with an 18 under par total of 270. He will be attempting to equal Faldo’s record of four Volvo PGA Championship victories.
For the first time the Volvo PGA Championship is delighted to offer juniors under the age of 16, on May 21 1998, free access throughout the week. Any junior who is accompanied by a responsible adult will be admitted free of charge on the day and will be issued with the appropriate ticket on the gate.
Woosnam said: "This is one of the great Championships of the world. To win last year from such a strong field was very satisfying and to win on a tough course like the West at Wentworth made it even better."